The article emphasizes the essential tips for new real estate agents, particularly focusing on the importance of financial preparedness and networking. It highlights that selling real estate can be a lengthy process, often taking months to close a deal, which necessitates having savings to cover living expenses. Additionally, new agents are advised to set aside a substantial portion of their earnings for taxes to avoid financial pitfalls. Networking through personal connections is also stressed as a crucial strategy for finding clients quickly.
Selling real estate takes time. It can take weeks or even months to find your first client, weeks or months to go under contract on a property, then typically another six to eight weeks until closing.
Once a new real estate agent has their first closing, it can be tempting to go on a shopping spree and celebrate. Don't fall into this trap!
Get into the habit of setting aside about 30% of your real estate income for taxes. This will help you avoid the temptation to dip into your tax money.
The fastest way to find clients is by working through the people you already know: friends, family, coworkers, neighbors.
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